Gold Prices Surge in Pakistan

Gold prices in Pakistan have surged, with the rate for 24-karat gold increasing by Rs3,600 to Rs273,500, reflecting a broader trend of rising global prices which also saw a $36 increase to $2,623 per ounce. The previous week, prices had already risen by Rs2,500, highlighting a consistent upward trajectory. Meanwhile, China has emerged as a leading silver importer, with annual imports exceeding 9,000 metric tonnes, driven by technological advancements and strategic resource acquisition, particularly from Peru. This growing demand for silver is indicative of China's ambitions to secure its position in global manufacturing and innovation. Additionally, Pakistan's gold imports increased by 20% year-on-year, reaching $10.64 million, influenced by geopolitical uncertainties, while domestic demand remains strong despite fluctuations in global prices. As the landscape for precious metals evolves, both China’s silver strategy and Pakistan's gold market dynamics are critical to watch.